ICO 2 mins

Skincoin Overcomes ETH Network Issue to Raise Minimum Goal under 24H

Avatar Gautham 3 years ago

If a cryptocurrency project is good enough to solve a problem or add value to the existing system, then there is nothing that can stop it from achieving a successful ICO campaign. The fact has now been proven by Skincoin — a universal cryptocurrency platform for the online gaming industry.

Skincoin recently announced its ICO, which went live on 21, June 2017. The ICO, with the goal of raising 100,000 ETH met with an early initial success despite issues faced by the Ethereum network. As per the ICO terms announced by Skincoin, the minimum goal for the crowdsale was set at 5000 ETH, which was achieved in no time.

The Ethereum network came under heavy stress after the number of ICOs on Ethereum blockchain witnessed a surge. With few much sought after token sales scheduled around the same time, ether transactions were confronted with a severe network congestion, causing a huge backlog of unconfirmed transactions. These backlogs and transaction delays suddenly reminded the community of a similar issue regularly faced by Bitcoin blockchain.

Skincoin’s achievement of the minimum goal in minimal time, amidst network issues has validated the growing demand for an exclusive currency within the online gaming industry. The main target audience of Skincoin is gamers and gamblers who trade and wager game skins on many eSports and other betting games. The game skins market itself is reported to be worth at least $5 billion with over 3 million participants.

As a part of its initiative, Skincoin is currently in the process of creating an entire cryptocurrency ecosystem surrounding the online gaming and eSports sector. It has already entered into strategic partnerships with platforms where the cryptocurrency can be put to use. In addition, Skincoin has also announced its plans to launch a trading platform where gamers can trade the skins.

Soon, the gaming cryptocurrency will make APIs available, enabling third party integrations of Skincoin payment systems. It will be followed by the launch of its own self-sufficient game platforms that use SKINs as a default currency.

As the Skincoin ICO continues, it is an ideal opportunity for gaming enthusiasts and cryptocurrency community members to become part of the new gaming revolution.

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